Crimping Steinhoff’s options
Investors voted down a proposal to issue more shares, reducing the retailer’s flexibility as it looks to slash its debt
31 March 2022 - 05:00
Steinhoff shareholders have just made life a little more difficult for the group’s management team as the retailer continues to battle its way onto surer ground.
By voting down two resolutions, authorising rights issues, at the recent AGM they have undermined what CEO Louis du Preez calls the group’s "optionality around equity"...
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